This publish is a part of a collection sponsored by EZLynx.
Summer season is a notoriously busy season for insurance coverage renewals, particularly for private strains like auto and owners’ insurance coverage. For unbiased brokers, this time of 12 months typically means juggling a flood of deadlines, premium modifications, and shopper communications.
In case your renewal technique contains beginning the evaluate course of 60 to 90 days upfront and reaching out to purchasers a couple of month earlier than their insurance policies expire, you know the way tough it may be to remain on high of every of those timelines throughout your e book of enterprise. With so many shifting components, even one missed deadline might value you a valued shopper—and letting just a few slip by can shortly influence your retention.
The excellent news? You don’t need to navigate this alone. EZLynx’s know-how could make managing renewals really feel much less like reactive firefighting and extra like a proactive solution to develop your corporation.
Routinely Monitor Renewals with Ease
In keeping with McKinsey, workers spend 1.8 hours per day, over 9 hours every week, simply looking for info. In case your present workflow for monitoring renewals isn’t built-in into your company administration system, you’re doubtless shedding precious time toggling between emails, spreadsheets, and service portals. Not solely does this lower into the time you could possibly spend advising purchasers, but it surely additionally will increase your danger of errors.
EZLynx eliminates this inefficiency by mechanically monitoring all shopper coverage expiration dates. With real-time alerts and a clear, centralized dashboard, you’ll all the time know what’s arising and when so you may keep forward and maintain every part underneath management.
Keep Proactive by Figuring out At-Threat Shoppers
Not all renewals are created equal. Some purchasers face important premium will increase, placing them at greater danger of purchasing round or switching carriers.
With all of your renewal exercise centralized in a single place, EZLynx mechanically identifies which purchasers are most in danger. It flags accounts experiencing substantial premium hikes, permitting you to prioritize these renewals and attain out to purchasers earlier than they think about switching suppliers or letting their insurance policies lapse altogether.
Current Aspect-by-Aspect Renewal Comparisons
As soon as which purchasers are in danger, EZLynx makes it simple to current them with actionable renewal info. EZLynx can mechanically ship insureds pre-renewal coverage summaries and, optionally, a customized video from their agent explaining any protection modifications. Remarketing options pull real-time quotes on your at-risk purchasers and show them alongside their present coverage particulars—no guide information entry required.
The platform then presents these choices in a clear, side-by-side comparability, permitting you to immediately determine premium modifications, protection gaps, or changes. This makes it simpler to information your purchasers by means of their renewal choices and ensures you’re absolutely ready for each dialog.
Take Benefit of Cross-Promote Alternatives
Wouldn’t it’s nice if whereas serving to purchasers with renewals, you could possibly additionally simply determine alternatives to supply them further services and products?
EZLynx leverages information in your current e book and intelligently surfaces cross-sell suggestions and allows insureds to simply add merchandise throughout the renewal course of. This performance helps brokers spherical out accounts with out further guide work and makes it simple for purchasers to take motion when insurance coverage is already high of thoughts.
Don’t Let Renewals Burn You Out
EZLynx automates the time-consuming duties concerned in managing renewals, saving you hours of administrative work every week. This additional time enables you to give attention to rising your corporation, strengthening shopper relationships, or just having fun with the summer time with much less stress.
Whereas renewal season is all the time busy, it doesn’t need to be overwhelming. With EZLynx’s renewal and retention instruments, you may streamline your workflows and improve shopper loyalty—supplying you with and your staff extra respiratory room throughout the busiest time of 12 months.
An important insurance coverage information,in your inbox each enterprise day.
Get the insurance coverage trade’s trusted publication
